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Well, the money markets didn't like the mini budget. I met Liz Truss in a hotel in Monmouth a few years ago. She said her solution to pensioner poverty would be to feed them on Pedigree Chum. Not only would this save a lot of money, it would give them shiny coats and a nice cold nose.
Well, some would argue that house prices are too high because credit has been artificially kept too cheap. A period of adjustment back to a historically-normal lending rate of 5% might help rectify that.
Yes this is true, but for the lowest earners and with the lowest credit scores it makes little difference.
The major way this country will grow is to properly invest in new and replacement infrastructure, be that road, rail, housing, renewable and nuclear energy. Pumping more money into the highly paid financial sector through tax cuts is not the way to go. The market wants to see some tangible assets to invest in and the Truss Kwarteng plan to throw money at cutting taxes in the hope it drives growth is narrow minded. For 20 or 30 years now our governments have failed to discuss that if you want the state to support a growing population in a whole host of areas you need to spend more and that requires a more realistic debate on tax and how it can be increased fairly to both businesses and workers etc.
This 1,000%
You simply HAVE to have a balanced Fiscal and monetary policy or it all goes to rats. When PFI became trendy I was never in favour, it’s all heading too laisse faire and risks losing vital but unprofitable infrastructure. We NEED decent council home stock, healthcare and welfare services should be top order, we SHOULD have rail and road networks the envy of Europe covering all locations, super fast broadband should be a minimum in all areas etc, etc. With that you spur more business, encourage more entrepreneurs and create better living standards for all. You run a well structured monetary policy alongside a strong fiscal policy and you may reach utopia but my view on how the fiscal is run may be at odds with some. The unemployment figure should be zero - it’s all a bit 1920’s USA but if you want money you work on these infrastructure plans for a decent wage - manual, admin, management….anything and everything is do’able. Your wages generate taxes to help those who genuinely need help and you feed the monetary policy which is structured to encourage entrepreneurs etc
I’d I had the answer to a balanced Fisco-Money plan then I wouldn’t be typing this at 3am…. I’d probably be penning apology letters to hedgefund managers “regretfully declining” invites to champagne receptions!!!!!!!
Cherish and enjoy life.... this ain't no dress rehearsal
Here comes the u turn. Unfortunately much of the damage has already been done to the economy and the country’s credibility. If the government had any shame they would call a general election asap but we all know that’s not going to happen.
Here comes the u turn. Unfortunately much of the damage has already been done to the economy and the country’s credibility. If the government had any shame they would call a general election asap but we all know that’s not going to happen.
“We get it, and we have listened”
Well, you should have listened in the first place but the fact that Truss admitted that it wasn’t discussed with the Cabinet and Kwasi just did it by himself is staggering.
It’s a bit late now saying they ‘get it’ because they should never have done it in the first place.
A few weeks in and reputation torn to shreds already, how can anything else she/they do and say hold any merit.
Here comes the u turn. Unfortunately much of the damage has already been done to the economy and the country’s credibility. If the government had any shame they would call a general election asap but we all know that’s not going to happen.
What's a general election going to do ?. The top brains in Labour and Conservative and Libdems need to sit around a table and sort their shit out. Who cares what banner the leadership flys under. It's the divisive attitude and power struggle that's blurring the UKs focus. Pie in the sky nonsense from me I know but that's about all I've got when it comes to politics. Investing in infrastructure, education, hospitals is a good starting point. But everyone knows this.
Well, you should have listened in the first place but the fact that Truss admitted that it wasn’t discussed with the Cabinet and Kwasi just did it by himself is staggering.
It’s a bit late now saying they ‘get it’ because they should never have done it in the first place.
A few weeks in and reputation torn to shreds already, how can anything else she/they do and say hold any merit.
What's a general election going to do ?. The top brains in Labour and Conservative and Libdems need to sit around a table and sort their shit out. Who cares what banner the leadership flys under. It's the divisive attitude and power struggle that's blurring the UKs focus. Pie in the sky nonsense from me I know but that's about all I've got when it comes to politics. Investing in infrastructure, education, hospitals is a good starting point. But everyone knows this.
A general election would give us a democratically elected government with policies and a mandate to govern that people actually support. I don’t think we have that at the moment hence why a general election should be called.
Irrespective of today’s entirely predictable u turn, we have a prime minister and chancellor who thought it was a good idea to cut taxes for the wealthiest in the current economic climate despite being warned that it would be disastrous. Probably the most undemocratic move I’ve seen in this country in my lifetime and we’ll be paying the price for years to come.
I’m not saying that everything would be sorted by a change in government. I’m not that naive. But at least give the people the right to choose who governs the country and the policies they want to see in place. I don’t think that’s happening at the moment.
Well, you should have listened in the first place but the fact that Truss admitted that it wasn’t discussed with the Cabinet and Kwasi just did it by himself is staggering.
It’s a bit late now saying they ‘get it’ because they should never have done it in the first place.
A few weeks in and reputation torn to shreds already, how can anything else she/they do and say hold any merit.
‘Kwasi just did it by himself’
Translation: ‘Kwasi will be the scapegoat’. Let’s see if he’s still in the job in a week or two.
Truss has been talking about tax cuts since the start of the leadership contest. That’s why she appealed to the Tory members (that and not being called Rishi). She must think the British public profoundly stupid if we’re meant to believe that Kwasi made the decision.
You didn’t address money supply and the expansion of credit.
Also interesting to see here that Left leaning people are angry that too rate wont be being reduced to 45p
I personally don’t doubt she thinks it’s the right thing to do. But I also don’t see it as entirely negative that a leader seeing the level of jealousy, envy and hatred and the haves vs the have nots get into when you reach the end of a long term debt cycle
Basically that 30 min Dallio video explains all of this
Some very angry people out there. Unhappy with their lives and looking for others to blame. Whether a rich person has 40p in the £1 or 45p in the £1 of money they earn taken from them by the government seems to be part of that. I don’t get that personally
You simply HAVE to have a balanced Fiscal and monetary policy or it all goes to rats. When PFI became trendy I was never in favour, it’s all heading too laisse faire and risks losing vital but unprofitable infrastructure. We NEED decent council home stock, healthcare and welfare services should be top order, we SHOULD have rail and road networks the envy of Europe covering all locations, super fast broadband should be a minimum in all areas etc, etc. With that you spur more business, encourage more entrepreneurs and create better living standards for all. You run a well structured monetary policy alongside a strong fiscal policy and you may reach utopia but my view on how the fiscal is run may be at odds with some. The unemployment figure should be zero - it’s all a bit 1920’s USA but if you want money you work on these infrastructure plans for a decent wage - manual, admin, management….anything and everything is do’able. Your wages generate taxes to help those who genuinely need help and you feed the monetary policy which is structured to encourage entrepreneurs etc
I’d I had the answer to a balanced Fisco-Money plan then I wouldn’t be typing this at 3am…. I’d probably be penning apology letters to hedgefund managers “regretfully declining” invites to champagne receptions!!!!!!!
You didn’t address money supply and the expansion of credit.
Also interesting to see here that Left leaning people are angry that too rate wont be being reduced to 45p
I personally don’t doubt she thinks it’s the right thing to do. But I also don’t see it as entirely negative that a leader seeing the level of jealousy, envy and hatred and the haves vs the have nots get into when you reach the end of a long term debt cycle
Basically that 30 min Dallio video explains all of this
Some very angry people out there. Unhappy with their lives and looking for others to blame. Whether a rich person has 40p in the £1 or 45p in the £1 of money they earn taken from them by the government seems to be part of that. I don’t get that personally
It’s got nothing to do with envy, plenty of people on both left and right not happy. Not every Tory voter earns £150k+ a year. It’s about having just and fairness in difficult times. How is it just and fair those earning enough to not really worry about energy bills get an even better financial deal which leaves a gap in the treasury that will be filled by increasing contributions from everyone else. That is essentially regressive tax. Of course people aren’t going to be happy about that. Are you?
So finally, and predictably, the Iron Weathercock turns with the wind.
Reading KK's comments this morning, it sums up everything that's wrong with politics all over the world:
1. 'It's not a u-turn' - well if that isn't one, I sure as shit would like to know what is. Given Lizard's penchant for the volte-face, then if this is how she's going to operate, then what embarrassments are to come; and
2. 'We've listened!' - see comments by other posters above.
If he's stupid enough not to realise Lizard has thrown him under the bus, and he just sucks it up like a prison biyatch, then he's got less fibre to him than a lettuce.
Utterly shambolic way to run a country.
'Always In Motion' by John Honney available on amazon.co.uk
Just watch this video yeah? I don’t need to respond to your points because someone out there with a camera phone has already done it (now watch this drive)
Furthermore you didn’t address the money supply or credit cycle, which as it’s not what was being discussed completely invalidates your specific evidence based observations.
A general election would give us a democratically elected government with policies and a mandate to govern that people actually support. I don’t think we have that at the moment hence why a general election should be called.
Irrespective of today’s entirely predictable u turn, we have a prime minister and chancellor who thought it was a good idea to cut taxes for the wealthiest in the current economic climate despite being warned that it would be disastrous. Probably the most undemocratic move I’ve seen in this country in my lifetime and we’ll be paying the price for years to come.
I’m not saying that everything would be sorted by a change in government. I’m not that naive. But at least give the people the right to choose who governs the country and the policies they want to see in place. I don’t think that’s happening at the moment.
That's my point though. All that will do is have politians scrambling for power once more and overlook the primary objectives. Basically what you want , it seems to me ,is to just overthrow the existing government and stick another one in place who also won't know wtf to do with the economy and specifically The Pound. Anyway the blues have already made a U turn so maybe they are starting to listen to financial experts. Maybe they read LFW. ?
You didn’t address money supply and the expansion of credit.
Also interesting to see here that Left leaning people are angry that too rate wont be being reduced to 45p
I personally don’t doubt she thinks it’s the right thing to do. But I also don’t see it as entirely negative that a leader seeing the level of jealousy, envy and hatred and the haves vs the have nots get into when you reach the end of a long term debt cycle
Basically that 30 min Dallio video explains all of this
Some very angry people out there. Unhappy with their lives and looking for others to blame. Whether a rich person has 40p in the £1 or 45p in the £1 of money they earn taken from them by the government seems to be part of that. I don’t get that personally
Straw man alert!
You asked me one direct question on inflation, which I responded too, and which you subsequently ignored. The rest of your post was replying to ParkRoyal.
A general election would give us a democratically elected government with policies and a mandate to govern that people actually support. I don’t think we have that at the moment hence why a general election should be called.
Irrespective of today’s entirely predictable u turn, we have a prime minister and chancellor who thought it was a good idea to cut taxes for the wealthiest in the current economic climate despite being warned that it would be disastrous. Probably the most undemocratic move I’ve seen in this country in my lifetime and we’ll be paying the price for years to come.
I’m not saying that everything would be sorted by a change in government. I’m not that naive. But at least give the people the right to choose who governs the country and the policies they want to see in place. I don’t think that’s happening at the moment.
But thats like changing the rules at HT .
The Cons won an 80 seat majority and our constitution says that the party leader is the Prime Minister . If it had meant a mandatory GE Johnson would still be in No 10
You simply HAVE to have a balanced Fiscal and monetary policy or it all goes to rats. When PFI became trendy I was never in favour, it’s all heading too laisse faire and risks losing vital but unprofitable infrastructure. We NEED decent council home stock, healthcare and welfare services should be top order, we SHOULD have rail and road networks the envy of Europe covering all locations, super fast broadband should be a minimum in all areas etc, etc. With that you spur more business, encourage more entrepreneurs and create better living standards for all. You run a well structured monetary policy alongside a strong fiscal policy and you may reach utopia but my view on how the fiscal is run may be at odds with some. The unemployment figure should be zero - it’s all a bit 1920’s USA but if you want money you work on these infrastructure plans for a decent wage - manual, admin, management….anything and everything is do’able. Your wages generate taxes to help those who genuinely need help and you feed the monetary policy which is structured to encourage entrepreneurs etc
I’d I had the answer to a balanced Fisco-Money plan then I wouldn’t be typing this at 3am…. I’d probably be penning apology letters to hedgefund managers “regretfully declining” invites to champagne receptions!!!!!!!
I didn’t realise you were economically left of centre, L Block? Higher taxes, state investment on major infrastructure and (green) energy sector initiatives…absolutely. It’s what the country needs and has needed for while. Won’t happen with a Tory govt though.
Jacob Rees-Mogg's business partner has just been given a peerage and appointed as a government trade minister. He's not an elected MP or anything, just Rees-Mogg's mate. This is the level of corruption of how we are governed now.
Jacob Rees-Mogg's business partner has just been given a peerage and appointed as a government trade minister. He's not an elected MP or anything, just Rees-Mogg's mate. This is the level of corruption of how we are governed now.
I didn’t realise you were economically left of centre, L Block? Higher taxes, state investment on major infrastructure and (green) energy sector initiatives…absolutely. It’s what the country needs and has needed for while. Won’t happen with a Tory govt though.
I agree with that too, but it's hard to see where the money for state investment on major infrastructure is going to come from.
Despite the apparent austerity of the early 2010s, our national debt has skyrocketed. Even setting aside the rights and wrongs of furlough and the consequences of lockdown, in the 9 years from 2010-19, the national debt increased from £1 trillion (which included bank bailouts) to £1.8 trillion, without any tangible benefit to the country. At that point, with interest rates at rock bottom, borrowing to invest in infrastructure probably would have been a decent strategy.
Now we have a national debt of about £2.4 trillion, due to increase as a result of Thick Lizzy's growth plan, and interest rates are only going one way for the foreseeable. I can't see any way out of any of this to the country's benefit without massive tax hikes and a substantial reduction in the size of the state. I don't think we are within two decades of being able to undertake major spending on infrastructure.
A general election would give us a democratically elected government with policies and a mandate to govern that people actually support. I don’t think we have that at the moment hence why a general election should be called.
Irrespective of today’s entirely predictable u turn, we have a prime minister and chancellor who thought it was a good idea to cut taxes for the wealthiest in the current economic climate despite being warned that it would be disastrous. Probably the most undemocratic move I’ve seen in this country in my lifetime and we’ll be paying the price for years to come.
I’m not saying that everything would be sorted by a change in government. I’m not that naive. But at least give the people the right to choose who governs the country and the policies they want to see in place. I don’t think that’s happening at the moment.
They have a "Mandate to govern". Events of the last few years which were out of any ones control would have tested any government any where in the world. So that Mandate and all it contains will need adjusting just as we have had to adjust to the current financial landscape. To be truth full, i`d love to see a labour government propped up by the SNP just for the laughs.
'You didn't know that was wrong, but now you do. If you do it again, I'll know you are doing it on purpose.'
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